As the madness over spot exchange-traded funds (ETFs) reaches a new pitch, cryptocurrencies like Bitcoins are making hay while the sun shines.
Multiple asset management companies have expressed interest in launching Bitcoin ETFs and have filed applications with the US Securities and Exchange Commission. The rising interest in ETFs has sparked a price rally for Bitcoin which analysts suggest will continue in 2024.
The other tokens that have won over analysts with their recent performance are InQubeta (QUBE) and Celestia (TIA). The two tokens have soldiered on, even when the market was down, to prove their potential.
Celestia is a data availability network for deploying blockchains, while InQubeta is a crowdfunding facility for AI startups.
InQubeta seems to have a bigger fan following because of its unique use case. The platform is built on the Ethereum network and has a cutting-edge code architecture to support its operations. It’s being called one of the best new ICOs because of its impressive gains during the presale stage. Its presale funding currently stands at $7.6 million.
InQubeta: Powering an AI revolution with startups
InQubeta makes funding opportunities readily available to startups working with AI. Both startups and investors can find mutually beneficial growth opportunities on InQubeta. To ensure seamless payments, the platform has released a native cryptocurrency called the QUBE token.
The top altcoin gives its patrons a chance to stake it and earn crypto rewards. Under staking, tokens are locked in the InQubeta ecosystem and they support the platform’s future development. In exchange, their owners are given crypto rewards. The higher the staking period, the more will be the rewards. These rewards are supplied by a pool that’s funded by tax collections.
The token is powered by a deflationary model which keeps the asset’s returns stable during periods of inflation. The model is based on the principle that when the supply is lower than demand, the asset value will be stable. So when inflation is high, it reduces the token supply to guard its returns.
The supply is made scarce by destroying excess tokens in circulation.
The same strategy is used to tamp down internal inflation, especially when tax collections are high. The InQubeta team collects a nominal tax whenever QUBE tokens are bought or sold. As these proceeds can derail the supply balance, a portion of the tax proceeds are burned.
The rest goes towards financing marketing campaigns, maintaining liquidity levels, and distributing rewards.
It has a decentralized governance structure where decisions are taken by putting them to a vote. Token holders are given voting privileges so that they can participate. Using these voting rights, token holders can contribute to the optimal development of the platform.
MicroStrategy buys Bitcoin worth $615 million
Bitcoin is among the best cryptos of 2023 and has a reputation for steady gains. Its native token BTC is the medium of exchange within the Bitcoin ecosystem. The platform is secured by the proof-of-work consensus algorithm.
It was recently in the news after software company MicroStrategy announced that it had purchased BTC tokens worth $615.7 million in cash. The move comes amidst the expectations of the SEC approving Bitcoin ETFs. According to reports, MicroStrategy, along with its subsidiaries, purchased around 14,620 BTC tokens.
Celestia DA layer to integrate with Polygon CDK
Celestia is a data availability protocol for deploying blockchains. Its key USP is that it can scale as the number of users increases. The high throughput is due to its Data Availability Sampling feature.
It also sports a range of tools that can help developers create blockchains with a rollup or customize a virtual machine into a sovereign chain. Its native token is TIA.
In a recent development, that platform announced that it will be integrating its data availability layer with the Chain Development Kit offered by the Polygon network. After the integration, Layer 2 projects that leverage the CDK can access data availability on Celestia and lower costs.
Conclusion
InQubeta, Bitcoin, and Celestia have unique utilities and are being hailed as top cryptos to invest in in 2024 by many experts. These networks have intuitive interfaces, strong security frameworks, and utility-centric models that make the DeFi ecosystem more accessible.
The collective impact of their features also boosts their growth potential. If 2024 is the year when you want to think for the long term, make sure you don’t miss out on exploring these three tokens.
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